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FRV podcast: COVID-19 relief – CAA and CARES Act

01.29.2021 | Duration: 28:34

Understanding the financial reporting effects of recent COVID-19 relief, including the Consolidated Appropriations Act.

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Podcast overview

Professionals from our Department of Professional Practice discuss accounting, presentation and disclosure considerations of the Consolidated Appropriations Act.

Applicability

  • All entities affected by COVID-19

Podcast contents

Insight
Tax relief for disaster recovery efforts
Insights and practical guidance in the wake of a natural disaster
  • 01:15 Paycheck Protection Program (PPP) summary
  • 04:25 Accounting for PPP
  • 08:25 Timing of accounting for PPP
  • 09:25 PPP tax items
  • 11:00 Employee Retention Credit (ERC)
  • 13:25 Accounting for ERC
  • 15:05 Background on income tax relief
  • 20:20 Accounting considerations for tax relief
  • 23:25 Other programs
  • 25:20 Disclosures

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